|By Marketwired .||
|May 2, 2014 11:58 AM EDT||
LOS ANGELES, CALIFORNIA -- (Marketwired) -- 05/02/14 -- Michael Kraft, Chairman of Canada's WeedMD Rx Inc. ("WeedMD") was a key contributor at the prestigious Milken Institute Global Conference's first-ever panel on the marijuana industry, "The Highs - and Lows - of the Cannabis Economy" earlier this week. The Milken Institute's prestigious Global Conference is one the world's leading conferences in the world for health, education, technology, telecommunications, energy and philanthropy. The conference attracts more than 3,000 of the world's leading decision makes from more than 60 countries. Among the participants are investors with more than $18 trillion in assets under management.
Michael Kraft, Chairman of WeedMD, said, "I congratulate the Milken Institute for raising attention for the marijuana industry and including this topic on their agenda for the first time. It was a great opportunity to be chosen as the only Canadian to join the panel and to discuss the evolution and changes in this billion-dollar industry at this important time in its history." Kraft said, "Canada is leading the way in medical marijuana legislation which is increasing access to higher quality cannabis products and regulating safe production at licensed facilities, and is well-positioned to become a global leader in this multi-billion dollar industry."
Kraft discussed the unique opportunity for American and international investors to invest in Canada's medical marijuana industry which, according to Health Canada, is expected to reach more than 450,000 users in the next ten years. Kraft presented the distinct advantages available in in the medical marijuana industry in Canada, and the strength and appeal of an investment in Canada, where the market is expected to be worth more than $1-billion annually by 2024.
Kraft was the only Canadian on this panel and was joined by leading executives, and experts in the cannabis industry. The panel was moderated by Mike 'Zappy' Zapolin of Zappy Inc. and the other panelists included DigiPath CEO, Todd Denkin, National Families in Action Inc. CEO, Sue Rusche, and Goodwin Procter LLP legal expert, Doug Praw. The Milken Global Conference is well-known for analyzing emerging trends from the perspective of industry, society, legal, and government. Global Conference attendees include Fortune 500 CEO's, Nobel Prize winners, and political leaders.
About WeedMD Rx Inc.
WeedMD has secured a pre-license approval from Health Canada to produce and distribute 2,500 kg of medical marijuana and is well-positioned to become a leader in this burgeoning industry. WeedMD.com's team includes industry and healthcare professionals with significant experience and expertise in seniors' and long term care, many of whose patients use or plan to use medical marijuana. WeedMD.com's operations are based in Aylmer in southwestern Ontario, in a 25,000 sq. ft. converted former tobacco plant which is being retrofitted for medical marijuana production and has the potential to expand to 100,000 sq. ft. WeedMD.com has hired leading growers, quality assurance and research & development professionals to manage plant physiology, phytosanitary issues and active ingredient concentrations.
Portions of this press release may include "forward-looking statements". These forward-looking statements are based on management's current expectations and involve certain risks, uncertainties and other factors that could cause actual events, results and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this press release include, but are not limited to, WeedMD's ability to obtain the necessary production licenses and approvals, WeedMD's ability to retrofit its former tobacco plant for production and to expand the facility, and WeedMD's expectations regarding its industry and position. Factors that could cause actual results to differ materially from such forward-looking statements include, but are not limited to, WeedMD's ability to satisfy the conditions of its Health Canada pre-license approval, WeedMD's ability to complete its retrofitting and expansion as planned, and adverse market conditions and general economic and business uncertainties. Readers should not place undue reliance on forward-looking statements. No assurance can be given that such events, results or opportunities will occur. WeedMD disclaims any intention or obligation to update or revise any forward-looking information other than as required by applicable securities laws.